Will Whatnot Start a Live Shopping Revolution?
Whatnot, a live shopping platform founded in 2019, has quickly become a major player in the e-commerce world. Owned by the founders Grant LaFontaine and Logan Head, this platform blends community and commerce into a vibrant live shopping experience. Currently available in North America and Europe, with plans to expand into Australia, Whatnot has experienced explosive growth. In 2024, its gross merchandise value (GMV) surpassed $3 billion, with millions of users engaging on the platform.
Whatnot offers a diverse range of products, including collectibles like sports cards, sneakers, luxury handbags, and Pokémon cards. It also features other categories such as women's fashion, electronics, and live plants. This variety caters to a broad audience, making Whatnot a one-stop shop for millions of buyers.
The platform works by hosting live auctions and shopping events where sellers can interact with potential buyers in real time. This creates a sense of community and excitement, making the shopping experience more engaging and entertaining.
I downloaded the UK version of Whatnot app yesterday and my first impression was that it was similar in layout to TikTok and is easy to use for a first time shopper. However, they are desperately short of content as there were no live streams to watch in my chosen categories. I took a detour in the the sneakers category and watched a live stream that was of poor quality. The host was in front of a laptop only half in view with a pile of boxes in the background. To succeed they will need to attract sellers with higher production values and inspiring hosts.
Whatnot's rise could significantly impact shopping behaviour by making online shopping more interactive and community-driven. The platform's focus on live events and real-time engagement could lead to a more immersive and entertaining shopping experience, potentially attracting younger audiences who are accustomed to social media and live streaming. As Whatnot continues to grow and expand its offerings, it could become a dominant force in the e-commerce landscape, shaping the future of online shopping.
